Zenas BioPharma (NASDAQ:ZBIO) Shares Gap Down – Should You Sell?
by Michael Walen · The Markets DailyZenas BioPharma, Inc. (NASDAQ:ZBIO – Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $22.16, but opened at $19.23. Zenas BioPharma shares last traded at $17.3350, with a volume of 898,114 shares trading hands.
Analyst Ratings Changes
ZBIO has been the subject of several recent research reports. Zacks Research lowered Zenas BioPharma from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 17th. Jefferies Financial Group reiterated a “buy” rating and set a $48.00 target price on shares of Zenas BioPharma in a research report on Tuesday, January 6th. Wall Street Zen downgraded shares of Zenas BioPharma from a “hold” rating to a “strong sell” rating in a report on Saturday, March 21st. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on shares of Zenas BioPharma in a research report on Monday, December 22nd. Finally, Guggenheim increased their price objective on Zenas BioPharma from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, March 16th. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.14.
Get Our Latest Stock Report on ZBIO
Zenas BioPharma Trading Down 21.9%
The company has a debt-to-equity ratio of 0.32, a current ratio of 5.61 and a quick ratio of 5.61. The stock has a market cap of $992.96 million, a P/E ratio of -2.24 and a beta of -1.94. The firm’s fifty day moving average price is $23.21 and its two-hundred day moving average price is $27.26.
Zenas BioPharma (NASDAQ:ZBIO – Get Free Report) last posted its quarterly earnings data on Monday, March 16th. The company reported ($4.54) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.22) by ($3.32).
Insider Activity
In related news, CEO Leon O. Moulder, Jr. bought 57,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was acquired at an average cost of $17.96 per share, for a total transaction of $1,023,720.00. Following the completion of the transaction, the chief executive officer directly owned 423,155 shares in the company, valued at $7,599,863.80. This trade represents a 15.57% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Hongbo Lu purchased 25,985 shares of the business’s stock in a transaction on Wednesday, February 11th. The stock was bought at an average cost of $22.50 per share, with a total value of $584,662.50. Following the purchase, the director owned 347,968 shares in the company, valued at approximately $7,829,280. This represents a 8.07% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 202,845 shares of company stock worth $3,747,185. 22.00% of the stock is currently owned by insiders.
Institutional Trading of Zenas BioPharma
A number of hedge funds have recently made changes to their positions in the stock. Polar Capital Holdings Plc purchased a new position in Zenas BioPharma in the fourth quarter worth $38,402,000. Federated Hermes Inc. raised its position in Zenas BioPharma by 45.9% during the fourth quarter. Federated Hermes Inc. now owns 2,715,578 shares of the company’s stock valued at $98,603,000 after purchasing an additional 853,740 shares in the last quarter. EcoR1 Capital LLC bought a new stake in Zenas BioPharma during the fourth quarter worth about $28,667,000. NEA Management Company LLC lifted its stake in Zenas BioPharma by 28.9% during the fourth quarter. NEA Management Company LLC now owns 3,523,219 shares of the company’s stock worth $127,928,000 after purchasing an additional 789,500 shares during the last quarter. Finally, NEXTBio Capital Management LP purchased a new position in shares of Zenas BioPharma in the 4th quarter worth about $11,691,000.
Zenas BioPharma Company Profile
Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.
Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.